Seattle, WA -- (SBWire) -- 09/24/2019 --Deep Brain Stimulation Devices Market- Insights
A deep brain stimulation (DBS) device, also known as brain pacemaker, helps to decrease the symptoms of neurological disorders such as the Parkinson's disease (PD). One of the three U.S. Food and Drug Administration (FDA) approved brain sites can be used to implant a DBS device to block the electrical signals from these sites to the brain. These sites include the ventrointermedialis (VIM) nucleus of the thalamus, subthalamic nucleus (STN), and globus pallidus pars interna (GPi). DBS surgery is used in the treatment of patients suffering from PD for at least four years and are on medications albeit with motor complications.
There are several other surgical options such as Thalamotomy and Pallidotomy. However, the high preference for DBS is attributed to its reversible approach and no need for destruction of tissue.
Increasing approval and launch of novel devices is expected to boost growth of the global deep brain stimulation devices market
Increasing focus of major market players towards development and launch of novel DBS devices is expecte to propel the market growth. For instance, in January 2019, Boston Scientific Corporation launched two new DBS devices namely the Vercise Primary Cell (PC) and Vercise Gevia Deep Brain Stimulation (DBS) systems. Similarly, in June 2015, the U.S. Food and Drug Administration (FDA) approved St. Jude Medical's Brio Neurostimulation System, a DBS device that helps to reduce symptoms of PD and essential tremors. Therefore, increasing launch and approval of such novel devices is expected to boost growth of the global deep brain stimulation devices market over the forecast period.
Major market players are also focused on launching upgraded versions of their already approved DBS devices in the market. For instance, in August 2018, Abbott Laboratories received the U.S. FDA approval for an over-the-air software upgrade for all currently implanted Infinity DBS systems that deliver magnetic resonance (MR)-conditional labeling. Therefore, approval and launch of such upgraded DBS devices is expected to create conducive environment for the market growth over the forecast period.
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The global deep brain stimulation devices market size was valued at US$ 831.6 Mn in 2018, and is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027).
High prevalence of diseases such as Parkinson's disease and epilepsy is expected to fuel the global deep brain stimulation devices market growth
Increasing prevalence of PD is expected to boost demand for DBS devices. For instance, according to the Parkinson's Disease Foundation, as of 2016, over 10 million people are suffering from Parkinson's disease, worldwide. The findings published by the organization demonstrated that incidence rate of PD increases with age and only 4% of people were diagnosed with PD before the age of 50 years. According to the same source, in 2017, the incidence rate of PD in the U.S is as high as 60,000, annually.
Moreover, according to Parkinson's Australia Inc. around 11,544 new cases of PD were diagnosed in Australia in 2014. According to the statistics released by Parkinson Canada, the number of people suffering from PD in Canada is expected to reach over 163,700 by 2031 (double than the prevalence in 2011).
Increasing prevalence of epilepsy is also expected to boost demand for DBS devices. For instance, according to the data published by the Centers for Disease Control and Prevention, in 2015, around 1.2% of the U.S. population suffered from active epilepsy, which was around 3.4 million people and included 3 million adults and 470,000 children.
Therefore, high prevalence of PD and epilepsy worldwide is expected to drive the global deep brain stimulation devices market growth over the forecast period.
Key players operating in the global deep brain stimulation devices market include, Boston Scientific Corporation, Medtronic, Inc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA.
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